A Frequently Asked Question 

Q: How do I know when I should get a lawyer to prepare or review a contract?

A: Imagine the worst-case scenario of everything going wrong once you sign that contract. Figure out what that will cost you. If you’re OK with losing that amount of money, and if you’re prepared to deal with all the time and aggravation that it will also cost you, then you don’t need a lawyer to prepare or review that contract.

But you need to be sure that you fully considered the consequences of the worst-case scenario occurring. For example, you might be looking at a contract with a computer consultant that has an out-of-pocket cost to you of $10,000, and you might be OK with putting that kind of money at risk if something goes wrong. But if the project involves the consultant working with your customer data or business-critical operations, you could lose far more than the contract price if something goes wrong and there are problems with the contract.

If you have any concerns, you should remember that an ounce of prevention is worth a pound of cure.